Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Investment with ex. div. quotation
Investment with ex. div. quotation will be debited to the investment account at its ex. div. value. The full impending dividend will also be debited to the Investment Account. When the dividend is subsequently received it is apportioned in the same way as a) above. A journal transfer is then made from the Capital column of the Investment Account to the debit of the Estates Capital Account in order to restore the book value of the investment to its probate (quarter—up) value.
Exanple Date of Death: 30th June, 20X5
Stock: 3% Kenya Stock
Interest paid: 31st January
31st July
Holding: Shs 6m quoted at 86—88 ex.div.
Investment Account
Nominal Income Capital Nominal Income Capital
20X5 Sh'000 Sh'000 Sh'000 Sh'000 Sh'000 Sh'000
June Estate July Estate
30 Capital 31 Cash
Account Book
(stock (interest
at pre-
death) 6,000 5,190 death 75
post-death 15
(interest July Estate Capital
due) 90 31 Account
15
Did ford realize any gain or loss from securty sales during 2009?
Explain the term Reporting interval - Management accounting For most businesses, financial accounting reports are produced on an annual basis, though some large businesses prod
FV of Bond 20000, CR 0.045, MR 0.059, Remaining payments 32. Answer
Assume you hold a diversified portfolio having of a $7,500 investment in every of 20 different common stocks. The portfolio's beta is 2.15. Now, assume you sell one of the stocks w
Van Aalst Company's comparative balance sheet and income statement for last year appear below: Comparative Balance Sheet
Stepped Up Basis -Usually, the foundation of property acquired by INHERITENCE, BEQUEST or device from a DECENDANT is the FAIR MARKET VALUE of the property on the date of decendant'
GOODWILL This is defined as “the difference between the value of a business as a whole and the fair value of its net separable assets”. Goodwill in practical sense is the advant
Differences in Inter company balances i) Cash in transit Where one company may have sent cash which is yet to be received by the other company as at the end of the financia
Assessment Criteria: Student work will generally be assessed in terms of the following criteria: 1. Preparation of correct journal entries. 2. Accumulation of journal entr
what is the implication of applying accounting concepts wrongly
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd